How do you establish shared accountability for IT cost optimization with business leaders to avoid being the sole owner of spending cuts?
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I chair a committee of executives overseeing our digital enablement and data strategies. We use a prioritization framework to collectively evaluate initiatives based on risk mitigation, strategic alignment, and business impact. Business cases, including anticipated ROI, are required for all major initiatives, fostering shared understanding and accountability.
Hi Stuart, we are trying to put in place just such a framework - would you be comfortable sharing your prioritization framework? Either here or privately with the Royal College of Physicians and Surgeons of Canada?
Hi, Here is the high level set of criteria.<br><br>Project Prioritization Criteria <br>- Alignment with Strategy (10)<br>- Risk Likelihood (5)<br>- Risks Consequence (5)<br>- Technology Driven (5)<br>- Positive Impact on Org Departments / Business Areas (5)<br>- Efficiency & Productivity Gains (5)<br>Priority Rubric Score (out of 35)<br>
Our digital area charges back costs to each of our 40 global sites, with annual forecasts and required cost savings. While we strive for transparency, ultimate responsibility for cost reductions remains with IT. Gaining user buy-in is essential when reducing contracts or functionalities to avoid operational issues.